BankNIfty : Double divergence on RSI - Ready to Fall?
https://www.tradingview.com/chart/nY4Fdw5c/
BANKNIFTY: After reaching all time high, Banknifty is getting continuous rejection at 48000 level. While looking at RSI, it is showing double divergence. It suggest for retail traders and even big players, dont be too bullish. Be very careful with hedge position or StopLoss. If you are not started thinking towards pullback / correction, I think you should be very bullish either.
BANKNIFTY: After reaching all time high, Banknifty is getting continuous rejection at 48000 level. While looking at RSI, it is showing double divergence. It suggest for retail traders and even big players, dont be too bullish. Be very careful with hedge position or StopLoss. If you are not started thinking towards pullback / correction, I think you should be very bullish either.
CORRECTION
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BANKNIFTY: After reaching all time high, Banknifty is getting continuous rejection at 48000 level. While looking at RSI, it is showing double divergence. It suggest for retail traders and even big players, dont be too bullish. Be very careful with hedge position or StopLoss. If you have yet not started thinking towards pullback / correction, I think you should also not be very bullish either.